Millikan Portfolio Review: 9 April 2026

St. Johns Bridge over Willamette River – Portland

Millikan is another Asset Allocation portfolio that is set up to resist a possible recession.  The portfolio is well diversified in that it covers all U.S. Equities, Developed International Equities, Emerging Markets, Gold, Artificial Intelligence, Dividend ETFs, and several essential sector ETFs.  I am not holding bonds in the Millikan as it is less important considering the emphasis on dividend paying ETFs of SCHD, VYM, and VIG.

Millikan Security Holdings

Below are the current holding for the Millikan portfolio.  Several asset classes are well under target.  I am addressing this issue by setting limit orders.  More on this below.

Millikan Rebalancing Recommendations

In the sixth (6th) column from the right readers will see the number of shares to purchase which will bring the ETFs closer to the target percentages.  Limit orders are set from 3% to 10% below the current price and I break the limit orders into pairs.  For example, I set two limit orders of 30 shares each for SGOL.  One limit order may be set around 3% below the current price and a second order at 10% below the current price.

I would not be setting limit orders this far below the current price were the market not so high and what I deem to be overbought.  Considering the world economic chaos it is baffling why the market continues to rise.  When sitting on a large amount of cash, this is a time to be patient.  Buffett is also waiting for a buying opportunity.

Of all the portfolios I am current tracking (several not reported publicly) I am hold 18% in cash and nearly 50% in critical sectors of the market.  Fixed income is only 2.2%.

Millikan Performance Data

Since 12/31/2021 the Millikan has outperformed the AOR benchmark and is in nearly a dead heat with the VTI market.  This performance is more than acceptable.

Millikan Risk Ratios

All risk ratios are higher than they were a year ago with exception of the Information Ratio.  Moving a few equity ETFs out of the Millikan and substituting with lower volatile ETFs hurt performance as the market continues to hold up quite well.  The Millikan is set up to handle the anticipated market volatility over the next 12 to 15 months.

The major jump in the Treynor is due to a strong IRR combined with a low beta (0.275) value.  Check to see how the Treynor is calculated if you have interest in why the huge jump.

The slope of the Jensen is flat and will likely turn negative in a few months unless the Millikan performs much better than the benchmark.

Comments are always welcome.